According to a new market report published by Transparency Market Research “Fuel Cells Market (PEMFC, MCFC, PAFC, SOFC, DMFC & Others) – Global Industry Analysis, Size, Share, Trends, Analysis, Growth and Forecast, 2012 – 2018,” the global fuel cells demand was worth USD 355.3 million in 2011 and is estimated to reach USD 910.3 million in 2018, growing at a CAGR of 15.0% from 2013 to 2018. Asia-Pacific and North America dominate the global market in terms of demand, and Europe is estimated to be the most promising market in the near future.

The fuel cells market by product type is majorly covered by PEMFC (Proton Exchange Membrane Fuel Cell) in terms of revenue followed by MCFC (Molten Carbonate Fuel Cell). PEMFC and MCFC are expected to grow at a CAGR of 11.5% and 17.8% respectively from 2013 to 2018. In terms of power (MW), PEMFC and MCFC again dominated the market, accounting for 46.3% and 39.2% of total demand in 2011 respectively. However, by 2018, MCFC is likely to overtake PEMFC market owing to the increasing market of stationary fuel cell systems.

PEMFC is used in a wide variety of applications including forklifts, automobiles, telecommunications, data centers, primary and backup power systems owing to its relatively low operating temperature and high power density. MCFC fuel cells are mainly used for stationary power generation and CHP applications, and are available as commercial products.

Fuel cells are currently more dominant in the North America due to regulatory support and technological innovation push in recent times. U.S. is expected to emerge as one of the biggest markets for fuel cell vehicles by 2018. Asia-Pacific is the other major region where the fuel cells market is very strong with demand expected to grow at a CAGR of about 12% from 2013 to 2018. In Asia-Pacific, Japan and South Korea dominate the market revenue for fuel cells.

Europe is expected to grow at the highest rate among these three major regions, driven primarily by regulatory policies pushing for sustainability and is expected to cover a substantial part of the market by 2018. With regional coverage, the study also provides comprehensive market data on key countries such as U.S., Canada, Japan, South Korea, Germany, UK, Norway, Sweden and Denmark.

The global mining equipment market is primarily driven by factors such as the increase in mining activities and the rising demand for metal and mineral commodities. The mining market is witnessing substantial growth after the economic crisis in 2010. Some other factors such as the enhanced demand for technically advanced solutions especially in developing countries is bolstering the growth of the global mining equipment market. Asia Pacific region dominates the global mining equipment market owing to tremendous growth of mining activities in China.

The global mining equipment market is segmented into six sub segments by equipment types namely, – mining drills and breakers, crushing, pulverizing and screening equipment, mineral processing machinery, surface mining equipment, underground mining machinery and other mining equipments. Metal mining, mineral mining and coal mining are the three main application sub segments of the global mining equipment market. The market has also been segmented and analyzed by geography into North America, Asia Pacific, Europe and rest of the world regions. Market estimates and forecasts are made after critical analysis of various macro and micro economic factors which directly and indirectly affect the market growth. The strategic analysis of the global market for mining equipment, and the market growth forecast for the period 2012 to 2018 has been included in the report.

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The scope of the report includes competitive analysis of various market segments based on the equipment types, applications and geography. The report also includes a trend analysis for all the segments of the market including geography. To aid in strategic decision making, the study includes competitive profiling of leading players in the industry. The market attractiveness analysis and Porter’s Five Forces analysis will provide a clear picture of the market dynamics and industry competition.

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Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.